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The factory, which is expected to employ approximately 3,000 people, will be overseen by Northvolt co-founder and former Tesla (NASDAQ:TSLA) executive Paolo Cerruti. The Quebec location was selected due to its abundant hydropower resources and proximity to potential lithium mines.
In addition to manufacturing batteries, the facility will also house a recycling center as part of Northvolt’s commitment to sustainability. This development aligns with the company’s operations in Europe where it supplies batteries to car manufacturers such as BMW (ETR:BMWG), Volkswagen (ETR:VOWG_p), and Volvo (OTC:VLVLY).
The announcement follows a similar move by Volkswagen who recently revealed plans to invest $5 billion in a battery factory in St. Thomas, Ontario. These investments highlight the increasing global emphasis on electric vehicle production and sustainable energy solutions.
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